Alaska Dept. of Revenue Divests from Unitil Corporation
January 31, 2023
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The Alaska Department of Revenue recently announced that it had sold its shares of Unitil Corporation ($NYSE:UTL), a utility holding company based in New Hampshire. Unitil Corporation is a provider of electricity and natural gas to customers in New England and New York, as well as a distributor of electricity and natural gas in the Greater Boston metropolitan area. Unitil Corporation also owns and operates a number of power plants and maintains a network of transmission lines throughout New England. This divestiture is part of the Alaska Department of Revenue’s commitment to diversifying its investment portfolio. The Alaska Department of Revenue has stated that the sale of these shares was in the best interest of its constituents, as the proceeds will be used to fund various projects in the state. The divestiture of these shares marks an important milestone for Unitil Corporation.
The company will now have access to additional capital that can be used to further expand its operations and continue to provide reliable energy services to its customers. This will also help to strengthen Unitil Corporation’s position in the competitive energy marketplace. The sale of Unitil Corporation’s shares by the Alaska Department of Revenue highlights the importance of diversifying investments, as well as the potential benefits to be gained from divesting from companies that may not be performing as well as expected. It also serves as a reminder to investors of the importance of regularly evaluating their portfolios to ensure that they are well diversified.
Price History
The Alaska Department of Revenue has announced its divestment from the Unitil Corporation. This news has been met with mostly positive media sentiment, with some analysts citing the company’s healthy balance sheet and its potential for long-term growth. On Tuesday, UNITIL CORPORATION stock opened at $53.1 and closed at the same price, representing a decline of 0.3% from the prior closing price of 53.2. Despite the slight dip in share price, analysts remain optimistic about the company’s future prospects, citing its strong fundamentals and its ability to weather economic downturns. The Alaska Department of Revenue’s decision to divest from UNITIL CORPORATION is likely to have little impact on the company as it continues to operate in a stable financial position.
The company’s solid balance sheet and consistent dividend payments make it an attractive choice for investors looking for a long-term investment. Overall, while UNITIL CORPORATION shares took a minor hit due to the Alaska Department of Revenue’s divestment, analysts remain positive about the company’s prospects. It is likely that the company will continue to be a reliable source of income for investors and will remain a viable option for those looking to diversify their portfolios. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Unitil Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 541.5 | 41.4 | 7.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Unitil Corporation. More…
| Operations | Investing | Financing |
| 94.6 | -116 | 20.5 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Unitil Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.58k | 1.12k | 28.61 |
Key Ratios Snapshot
Some of the financial key ratios for Unitil Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.6% | 3.5% | 14.8% |
| FCF Margin | ROE | ROA |
| -4.0% | 10.9% | 3.2% |
VI Analysis
Investors looking for a safe bet may be interested in UNITIL CORPORATION, as the VI app indicates that it has an intermediate health score of 4/10 with regard to its cashflows and debt. This means that the company is likely to safely ride out any crisis without the risk of bankruptcy. Furthermore, the company is strong in dividend and profitability, and medium in asset and growth. According to the VI Star Chart, UNITIL CORPORATION is classified as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. As a result, UNITIL CORPORATION’s fundamentals reflect its long term potential, making it an attractive option for investors seeking a secure investment. In addition, UNITIL CORPORATION’s strong dividend and profitability ratings may be particularly attractive to investors who are seeking dividends or reliable returns. Moreover, given the company’s medium asset and growth ratings, it may be a good option for investors who are looking for a more moderate investment that may still be able to make decent returns. Overall, UNITIL CORPORATION is an attractive option for investors seeking a secure investment with reliable returns. The company’s fundamentals reflect its long term potential, and its intermediate health score indicates that it is likely to safely ride out any crisis without the risk of bankruptcy. Therefore, investors who are looking for a safe bet may be interested in UNITIL CORPORATION. More…
VI Peers
Unitil provides electricity and natural gas service to over 206,000 customers in New Hampshire, Massachusetts, and Maine, and natural gas service to approximately 5,000 customers in southeastern New Hampshire. The Company’s operating utilities include Fitchburg Gas and Electric Light Company, Granite State Gas Transmission, Inc., Unitil Energy Systems, Inc., and Unitil Service Corp. Avista Corp, NorthWestern Corp, MGE Energy Inc are all competitors of Unitil Corp.
– Avista Corp ($NYSE:AVA)
Avista Corp is a publicly traded company that provides energy services to customers in the Pacific Northwest. The company has a market capitalization of $2.94 billion and a return on equity of 6.4%. Avista Corp is headquartered in Spokane, Washington and has approximately 2,700 employees. The company’s primary business is the generation, transmission, and distribution of electricity and natural gas. In addition to its energy services, Avista Corp also provides water service to customers in Washington and Idaho.
– NorthWestern Corp ($NASDAQ:NWE)
NorthWestern Corp is a US based power delivery company. The company has a market cap of 3.29B as of 2022 and a Return on Equity of 6.65%. The company is engaged in the business of providing electric and natural gas service to customers in Montana, South Dakota and Nebraska.
– MGE Energy Inc ($NASDAQ:MGEE)
MGE Energy Inc is a public utility holding company, which engages in the generation, purchase, transmission, distribution, and sale of electricity. It also generates and sells steam to customers in downtown Madison, Wisconsin. The company was founded in 1896 and is headquartered in Madison, WI.
Summary
The Alaska Department of Revenue has recently divested from Unitil Corporation, a utility services company. Despite the negative sentiment surrounding the news, Unitil Corporation remains a smart investment for many investors. The company has a long history of financial stability, with consistent dividend payouts, attractive returns on equity, and an impressive track record of performance.
Additionally, the company’s strong balance sheet and low debt levels assure investors that their investment will be safe and secure. With a healthy and robust public offering, Unitil Corporation is a viable option for those looking to diversify their portfolio and invest in a stable and secure entity.
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